My Deal of The Week
Alright, I haven’t seen the basement area yet, so I have no idea what could be down there (possibly a mold monster). But this home in Charlottesville for $250,000 seems like a good deal to me. Throw $20k at it, and you’ve got a nice 2-bedroom, 1-bath home in the city. Once I send this email, I’ll go take a look and report back, fingers crossed.
1435 E HIGH ST
Charlottesville, VA
2 Bedroom – 1 Bathroom
1 Days on Market | $250,000
Listed by Avenue Realty, LLC
Charlottesville, VA
2 Bedroom – 1 Bathroom
1 Days on Market | $250,000
Listed by Avenue Realty, LLC
What The Local Market Is Doing
It’s officially fall in Virginia, and you can see it not only in the falling leaves but also in the number of homes listed this week—26 to be exact. Let’s compare that to the same week last year. Homes listed in the Charlottesville area last year were at 49, with interest rates at 7.89%. The median sold price was $499,000. So, if you bought a home around this time last year and are thinking about selling within a year, you probably wouldn’t be making much, if anything, on it. But hopefully, you’re not thinking of selling after just a year—that’s not really how real estate works. So, what’s happening post-election? Well, buyer confidence is back up! Every open house this weekend had a great turnout. I’m talking about homes that hadn’t had a showing in a month getting five showings this weekend. This shows that buyers are feeling optimistic about the economy in 2025. Will demand stay elevated through November and December? Maybe, but I’ll keep you posted next week.
Homes Listed This Week – 26 | Last Week – 44
Median Sold Price – $499,468 | Last Week – $580,000
2.7 Months of Inventory | Last week it was 2.87 Months
Today’s rate – 6.92% with a 30 Yr. fixed conventional mortgage – Last Week 7.13%
Median Sold Price – $499,468 | Last Week – $580,000
2.7 Months of Inventory | Last week it was 2.87 Months
Today’s rate – 6.92% with a 30 Yr. fixed conventional mortgage – Last Week 7.13%
What I’m Following
The Building of 300 more homes in Brookhill
Developers want to downsize the amount of commercial space in the Brookhill neighborhood, just north of the city, and build 300 more homes. They claim this will help with the city’s housing shortage, Unfortunately, the market doesn’t have a housing shortage. What we really have is a housing affordability issue.If they built 300 homes priced under $300k, I’d be thrilled for Virginians. But as we know, builders aren’t in the business of charity. The only way for housing to become affordable again is for interest rates to come down and for the city to loosen its zoning and permit restrictions, so builders can build in a less costly manner.
Local Spot I’m Excited About
Staunton Pufferbellies Toys The holiday season is here, and it’s time to buy local. If you haven’t been to Pufferbellies in Staunton, you’re missing out! It’s one of the best toy stores around. Take your kid, let them play with all the toys, get a good idea of what to buy, and then, buy it on Amazon? NO!! Shop local! Please help these small businesses survive by buying local. Go check them out!
My Final Thoughts
If you missed my newsletter the last couple of weeks, it’s because I didn’t write one. I’ve been working on some big things for my business in 2025, and I can’t wait to share them with you—but it’s been time-consuming! Also, be sure to follow me on social media, as I’ll be posting daily about the Virginia market. You won’t want to miss my insights and tips!As always, if you or anyone you know is ready to buy or sell, I’m right here!
